On Tuesday, McDonald’s reported that global same-store sales in August fell 3.7 percent in August, well short of expectations. The worst drop occurred in the Asia-Pacific region on the back of a Chinese meat safety scandal, but even U.S. sales slid 2.8 percent.

For Faber, those results are a perfect example of the damage being done by central banks—and the harbinger of more bad news to come.

“Nobody knows for sure” what will cause stocks to collapse, but “the earnings may disappoint. We had, essentially, very poor sales from McDonald’s. Now, McDonald’s is a very good indicator of the global economy. If McDonald’s doesn’t increase its sales, it tells you that the monetary policies have largely failed in the sense that prices are going up more than disposable income, and so people have less purchasing power.”

But even as most have seen their cost of living increase, according to Faber, median family income has hardly budged. That puts less-wealthy families—and the companies like McDonald’s that are reliant upon them—in a tough bind.

The most likely scenario is another crash like we had in 2008. We have been basically moving in a circle since the great recession.